Trinity Limited, owner of Gieves & Hawkes, reportedly falls into liquidation

Chinese fashion group Trinity Limited has reportedly been placed into liquidation after it failed to find a buyer for Savile Row’s Gieves & Hawkes.

The 250-year-old British tailor could face consignment, alongside sibling brands Kent & Curwen and Cerutti, following Trinity’s appointment of FTI Consulting and R&H Services as joint liquidators. A report by The Times has suggested the two were recruited by the company’s lender, Standard Chartered, after the advisory firm RSM failed to find a buyer.

According to the publication, neither Trinity nor FTI have responded to a request for comment at this time.

Gieves & Hawkes was acquired by Trinity 10 years ago, becoming part of the firm’s strategy to compete against European fashion houses and luxury groups.

The Times further stated that Marks and Spencer “remains interested in” the purchase of the Gieves & Hawkes brand name. The potential takeover was reported on last year, as the retailer was allegedly mulling how to implement the brand into its business.

Marks and Spencer previously acquired loss-making fashion brand Jaeger, buying it out of its six million pound administration as part of the retailer’s strategy based around building its third-party brand portfolio.

However, a sale may not be so simple. According to the media report, “the complicated ownership structure” of the Chinese firm “has frustrated any traditional sale process”.

A downward spiral

It was also stated that Trinity possibly owes millions to footballer David Beckham, following the early termination of an agreement to licence his name and image for Kent & Curwen.

The company has attempted to avoid liquidation for two years, launching an appeal against a forced closure order in Bermuda and Hong Kong.

Its financial situation, however, has continued to decline, with a source of The Times stating that the downfall of Gieves & Hawkes was the “responsibility of a failed Chinese corporation with foreign ambitions”.